As per this research report, Global Automotive Industry is expected to grow with a CAGR of 3.71% from 2020-2030. This will require a sophisticated degree of scenario planning and agility to identify and scale new attractive business models. Figure 2: Global Forecast Market Growth, 2021-2026F, 2031F, . Figure-28: Asia Pacific & Oceania Forecast for EV Volume (Thousand Units), 2021 2030 Others will be put off buying a car because of urbanization: Driving in cities involves extra costs such as parking and is generally no longer a pleasure; many people simply want to get around with as little hassle as possible. The United States Autonomous Vehicles Industry was US$ 4.00 Billion in 2021. The same principle will apply to infotainment systems, for which the industry will increasingly use standard displays, operating systems, software layers, and input devices. The global automotive adhesives market size was valued at $4.7 billion in 2020, and projected to reach $8.4 billion by 2030, with a CAGR of 5.9% from 2021 to 2030. The Asia Pacific is the largest market due to the growing demand for passenger cars and fuel-efficient vehicles. 2. 12.3.2 Recent Development & Strategies The experts came to the conclusion that investing in software development instead will help companies to gain a strong competitive advantage. The pace of recovery is uneven regionally, with China leading, North America following, and Europe likely lagging behind. . 7.4 Mild Hybrid Vehicle Figure-67: Middle East & Africa NGV Volume (Thousand Units), 2017 2020 3. In Asia Pacific countries, winning government incentives to simplify electro mobility and increased investments by automakers are expected to drive the market. The global automotive semiconductor market is expected to reach $103.70 billion by 2030 and is set to project a CAGR of 9.47% during the forecast period, 2022-2030. The increasing sales figures of new vehicles will require investments in production capacity for the necessary hardware. Expected global LV sales growth from 2021 to 2022: 3.75%. Automotive Cameras industry report classifies global market by share, trend, growth and based on vehicle type, technology, application, and region | Automobile Camera Depending on the local options, that could mean a ride-hailing service, taxi, rental car, car-sharing service, public transport or, of course, their own car. The global automotive suspension systems market is expected to grow from $56.87 billion in 2021 to $59.17 billion in 2022 at a compound annual growth rate (CAGR) of 4.05%. Electrification is happening, but its rate is hard to predict. Figure-57: Europe Petrol Vehicle Volume (Thousand Units), 2017 2020 The growing technological advantage in AI, machine learning, and deep neural networks will finally allow implementing the concept of autonomous vehicles. Manufacturers and suppliers will have to review their business model in order to comply with the 5 trends mentioned before. Table-06: Asia Pacific & Oceania Forecast for Automotive Region by Categories Volume Share (Percent), 2021 2030 Web and Mobile Development Manager, Qulix Systems, Due to the strict emission control regulations in several countries, automotive companies have started to reorient their strategy towards electric mobility. However, for several years car-sharing facilities were available in many big cities just as a pilot project. Figure-82: Ford Motor Company Forecast for Global Revenue (Billion US$), 2021 2030 Figure-46: Europe Forecast for HEV Volume (Thousand Units), 2021 2030 Adhesives are lightweight . (We can also provide the editable version of the report in PPT/Word format on request), 6.1 Region Wise Automotive Vehicle Types, Information Technology, Telecom & Internet, United States Autonomous Vehicles Market, Size, Forecast 2021-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis, Autonomous Vehicles Market, Size, Global Forecast 2022-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis, Battery Market by Transport, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis, China Automobile Market, Size, Forecast 2021-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis, Aerostat Systems Market, Growth & Forecast, COVID-19 Impact, Industry Trends, By Product, Application, Opportunity Company Analysis, Global Radiology Information System Market is expected to reach US$ 1,388.5 Million by 2027 due to increasing number of cancer cases, France Toys Market to Reach USD 4.60 Billion by 2027, as Toys Play a Vital Role in Growth of Children Development, Global Electric Wheelchair Market is expected to expand at a CAGR of 9.8% during 2022 - 2027, due to Unprecedented Increase in the Geriatric Population, Europe Fertilizer Market to Reach US$ 8.4 Billion by 2027, Propelled by Awareness about Using Organic Fertilizers on Human Health and Soil Quality. PwC analysts, therefore, estimate that by 2030 there will only be a small, single-digit percentage of pure combustion engines among new car sales in the EU. Global Light Vehicle market selling rate slipped back to 92.8 mn units/year in January 2017. As shared mobility solutions with shorter life cycles will become more common, consumers will be constantly aware of technological advances, which will further increase demand for upgradability in privately used cars as well. 9.3 Plug-in Hybrid Electric Vehicle However, the stakes are higher than they used to be, and the coming upheavals will be on a much greater scale. We'll be in touch shortly. 8 min read Company Logo Dublin, March 28, 2022 (GLOBE NEWSWIRE) -- The "Automotive Semiconductor Market by Component, Vehicle Type, Propulsion Type and Application:. Mobility providers (Uber, for example), tech giants (such as Apple, Google), and specialty OEMs (Tesla, for instance) increase the complexity of the competitive landscape. As per this research report, Global Automotive Industry is expected to grow with a CAGR of 3.71% from 2020-2030. Moreover, the rising adoption of MHEVs in the Asia Pacific is expected to drive automotive production. One area where the traditional auto industry lacks skills is software, and much of the new technology that will go in cars is first being developed outside the automotive world, in particular by digital companies. The Global Automotive Market consisted of 85.32 million units in 2020, and is expected to reach 122.83 million units by 2030. Growing population and mobility demands will lead to a continuous mileage increase. First, vehicles will run on different power sources. Given the widespread understanding that game-changing disruption is already on the horizon, there is still no integrated perspective on how the industry will look in 10 to 15 years as a result of these trends. Global sales expected to reach pre-pandemic levels in 2023. Vehicles will need to be damage-resistant and low-maintenance so that they can easily be used by multiple users. One thing is certain, the changes will be fast, and only those players that move quickly and make bold decisions will be able to thrive. Here are three major trends that will dominate the products and solutions of the new era. PwC calculated a decrease of 19% already by 2020. Table-07: Europe Automotive Region by Categories Volume Share (Percent), 2017 2020 3. This drop will be largely driven by macroeconomic factors and the rise of new mobility services such as car sharing and e-hailing. Table-12: Global Automotive Forecast for Volume Share by Category (Percent), 2021 2030 Furthermore, MHEVs are also bringing higher efficiency and lower running costs to combustion engines and could therefore provide promising opportunities for OEMs, suppliers, and customers until electric powertrains become ubiquitous. 10.2 Hybrid Electric Vehicle Call us at +44 151 528 8015 Figure-60: Middle East & Africa Forecast for EV Volume (Thousand Units), 2021 2030 8.3 Plug-in Hybrid Electric Vehicle In these cases, flexible pay-per-use models will provide an alternative. Many of these mobility services will run into their own problems of feasibility and, when the services do work, they will often tempt people away from public transport rather than from car ownership. Figure-07: Europe Automotive Volume (Million Units), 2017 2020 The Asia Pacific is the largest market due to the growing demand for passenger cars and fuel-efficient vehicles. Figure-04: Forecast for Americas Automotive Volume (Million Units), 2021 2030 Figure-14: Americas Forecast for HEV Volume (Thousand Units), 2021 2030 Automotive from Ultima Media brings to you INSIGHT PLUS and our brand new 74-page global business intelligence report that answers the burning questions every senior executive has recently been asking about Global New Vehicle Demand Forecasts in the wake of the Covid-19 crisis: Another reason to form alliances is to share the huge cost burdens of developing the next generation of mobility. Coronavirus devastating effect on Global Automotive Market: The coronavirus (Covid-19) pandemic has induced a decade of expansion in the global automotive industry to an abrupt standstill, with sales plummeting in most markets. Probably the most important trend in the automotive industry is the worldwide shift to electric vehicles (EVs). Moreover, the total number of traditional jobs required in the industry will be reduced as technologies become less hardwaredriven and more standardized. Asia Pacific & Oceania Globally, the aftermarket is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region from 2020 to 2030. The key strategies adopted by these companies to sustain their market position are new product developments, acquisitions, and partnerships & expansions. 3. 5.3 Europe Mild Hybrid Vehicle This could create up to $1.5 trillionor 30 percent morein additional revenue potential in 2030, compared with about $5.2 trillion from traditional car sales and aftermarket products/services, up by 50 percent from about $3.5 trillion in 2015 (Exhibit 1). As per this research report, Worldwide Automotive Market was valued at85.32 Million Units in 2020. That's over 4% of global vehicle sales. In Union Budget 2021-22, the government introduced the voluntary vehicle scrappage policy, expected to advance the market for new vehicles after lifting old unfit vehicles currently plying on the Indian roads. In February 2021, the Delhi government started setting up 100 vehicle battery charging spots across the state to expedite the adoption of electric vehicles. Global Power Tools Market 2022 - Technological Growth, Industry Status, Trends, Demand and Forecast to 2030 Global Oxo Alcohols Market 2022 Industry Research, Share, Trend, Demand and Future . Asia Pacific & Oceania Global Automotive Volume, 8.1 Electric Vehicle These new entrants from outside the industry are also wielding more influence with consumers and regulators (that is, generating interest around new mobility forms and lobbying for favorable regulation of new technologies). PwC developed a mathematical model which can be used to quantify the impact of the 5 dimensions. E-mail us atrequest@qulix.com, Oakwood Dunstan Lane, Burton, Neston, Cheshire, CH64 8TQ, United Kingdom, 2022 Qulix Systems.
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